China’s central bank said the slowdown in growth in the world’s third-largest economy will likely stabilize, helping the nation avoid a slump during the second half of the year.
The economy’s fundamentals remain “good,” the People’s Bank of China said on its website today. China’s decreasing dependence on exports also means the European debt crisis is [...]
Archive for the ‘Debt’ Category
China’s Slowing Economy Will Stabilize, Avoid Slump, Central Bank Predicts
July 27th, 2010 by Financial Writer
Tags: bank of china, Chinese economy, debt crisis, economic growth, economists, european economy, financial system, Global Economy, inflation, interest rates, loans
more...20% of Americans hit by major economic loss
July 22nd, 2010 by Financial Writer
A new study released Wednesday estimates that 20% of Americans suffered a significant economic loss last year - the highest level in the past 25 years.
The new Economic Security Index looks at the interaction of three key variables that have a direct bearing on a person’s economic security: income loss, medical expenses and debt.
The index, [...]
Tags: debt crisis, economic estimates, economists, financial, financial markets, financial system, money, us economic, us economy
Bailed-out small US banks face takeover risk -panel
July 14th, 2010 by Financial Writer
Smaller banks that got U.S. government bailout money are likely to run into trouble repaying it and may become vulnerable to takeovers as a result, a congressional watchdog agency warned on Wednesday.
In its latest critique of the Treasury Department’s handling of the Troubled Asset Relief Program, or TARP, the Congressional Oversight Panel said smaller banks [...]
Tags: banks, commercial real estate, economic, financial crisis, real estate investment, taxpayers, us, us economic, us government, us treasury, wall street
U.S. Economy: Private Payroll Growth Trails Forecasts
July 3rd, 2010 by Financial Writer
Private employers added fewer workers to payrolls in June than forecast, reinforcing concerns the recovery will weaken as Americans curtail spending.
Declines in the average workweek and hourly earnings make it more likely consumers will pull back, hurting sales at retailers including Best Buy Co. The report caps a month of data that points to weakness [...]
Tags: commerce department, consumers, debt crisis, economic recovery, economists, european economy, global market, home inventory, us economy
Stocks jittery after jobs report
July 2nd, 2010 by Financial Writer
Stocks slipped Friday as investors eyed the weaker-than-expected June jobs report, and were cautious ahead of the long holiday weekend.
The Dow Jones industrial average (INDU) lost 36 points, or 0.4%, the Nasdaq (COMP) composite fell 8 points or 0.4% and the S&P 500 (SPX) index dipped 3 points, or 0.3%. On Thursday, the Dow and [...]
Tags: debt crisis, Dow Jones Industrial, economic, economists, european economy, investor market, Nasdaq composite, stock market, unemployment rate, us economic, us economy
U.S. Stocks Fluctuate on G-20 Deficit Pledge, Consumer Spending
June 28th, 2010 by Financial Writer
U.S. stocks swung between gains and losses as a bigger-than-forecast rise in consumer spending and a pledge by Group of 20 leaders to cut deficits offset smaller- than-estimated growth in personal incomes.
Transocean Ltd., the company that leased the Deepwater Horizon drilling rig in the Gulf of Mexico to BP Plc, advanced after the British oil [...]
Tags: commerce department, consumer spending, debt crisis, Dow Jones Industrial, economic recovery, european economy, financial leaders, Global Economy, us stocks
U.S. Growth Is Revised Downward, to 2.7%
June 27th, 2010 by Financial Writer
The government lowered its estimate of how much the economy grew in the first quarter of 2010, noting that consumers spent less than it previously thought.
The country’s gross domestic product rose by an annual rate of 2.7 percent for January through March, the Commerce Department said on Friday. That was less than the 3 percent [...]
Tags: businesses, commerce department, debt crisis, economists, economy grew, european economy, financial system, recessions, us consumer
Yen, Dollar Advance on Speculation Economic Recovery Sputtering
June 24th, 2010 by Financial Writer
The yen and the dollar gained against most major counterparts as signs the global economic recovery is faltering fueled demand for the safest currencies.
The Japanese currency remained the top performer among the most-traded currencies even after data showed U.S. jobless claims declined last week. Stocks fell on concern Europe’s debt crisis is worsening. Federal Reserve [...]
Tags: commerce department, debt crisis, economic recovery, financial system, Global Economy, home sales, unemployment, us, us economic, us federal reserve
Gold Rises to Record on Haven Demand Amid U.S., Europe Concerns
June 18th, 2010 by Financial Writer
Gold futures rose to a record $1,260.90 an ounce on demand for a haven amid Europe’s fiscal woes and dimming prospects for the U.S. economy.
The metal has climbed 15 percent this year, outperforming equities and bonds, while the euro has slumped 14 percent. A majority of Greeks believe the country may go bankrupt, an opinion [...]
Tags: economists, euro zone, european economy, financial, money, precious metal, us economy, us federal reserve, us recovery
Industrial Production in U.S. Increased 1.2% in May
June 16th, 2010 by Financial Writer
Production in the U.S. rose in May by the most since August, led by increases in automobiles and utilities and showing manufacturers are weathering the effects of the European debt crisis.
Output at factories, mines and utilities increased 1.2 percent last month after a 0.7 percent gain in April, figures from the Federal Reserve in Washington [...]
Tags: business, commerce department, economy recovery, european economy, Global Economy, interest rates, us federal reserve, us housing market